Conagra Brands price target lowered to $20 from $22 at RBC Capital

RBC Capital lowered the firm’s price target on Conagra Brands (CAG) to $20 from $22 and keeps a Sector Perform rating on the shares. Against subdued expectations and underperformance into the print, Conagra delivered a softer quarter on the topline but with better than feared profitability, the analyst tells investors in a research note. The quarter was noisy and impacted by several timing and one-time transitory factors, though consensus estimates likely come down within Conagra ranges, the firm added.